NCR Certification in terms of Section 25 of the National Credit Act


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Fix It - Debt Mediation

This product could be used to possibly restructure consumers financial situation, who do not qualify for consolidation finance and or further advance bond finance due to reversals listed on bank statements or credit bureau default listings or arrears in excess of two months, to have the opportunity to rectify such listings.

Accord Debt Solutions CC assist over-indebted consumers, who do not qualify for total debt consolidation finance, do not want to go under Debt Review and or Administration and do not want to risk having their credit bureau listing affected negatively, to have un-affordable creditors instalments restructured at 40% less than creditors contractual instalments on unsecured debt.

Such consumers will still have the opportunity to apply for future consolidation finance after having had their financial situation re-structured to the extent that they could qualify for consolidation finance of total outstanding debt.

The benefits of the 60% product, to over-indebted consumers that can afford at least 60% of their current creditor's contractual instalments are:

No calls from creditors collections department, debt collectors or attorneys.

No threats to repo assets.

No summonses, judgments and or "garnishes".

No negative credit bureau listings.

Consumers who are credit worthy, remain credit worthy and could possibly consolidate total debt.

Consumers who are not credit worthy have the opportunity to work towards re- structuring their financial status.

Consumers have the option to pay one reduced instalment to all creditors or one reduced instalment to each creditor.

What makes 60% Debt Mediation product a viable alternative to Debt Review?

  • If you do not have negative credit bureau listings, it can be prevented,
  • Legal action by creditors, could be prevented, where possible;
  • Alternative reduced, affordable payment arrangements are structured with your credit providers;
  • We assist to apply the industry restructuring rules, avoiding legal proceedings.
  • Where such re-structuring rules are applied correctly, creditors registered with the NCR, are obliged to accept re-structured affordable payment arrangements;
  • You will have sufficient financial means to provide for your and your family necessary day to day expenses;
  • No further stress regarding un-affordable creditors payments.

We will:

  • Mediate with your credit providers to negotiate a minimum of forty percent reduced installments, on your behalf. On un-secured debt.
  • Assist to increase your disposable income.
  • Assist to possibly improve your credit profile with the intention to consolidate your total debt at a total charge of credit(Interest plus fees and insurance) that is less than the average total charge of credit currently paid by you.

You will:

  • NOT have a negative credit bureau profile, where you do not currently have a negative credit bureau profile.
  • Have the opportunity to apply for consolidation finance, when such finance become available.
  • Have one monthly instalment that could provide for your credit providers re-structured instalments. If required by you.
  • Have sufficient means to pay towards your necessary day to day expenses, where the 40 % reduction provide for same.
  • Have less stress.